Research On The Public Enterprise In Infrastructure Industry Field

It is both important theoretical and practical problem that to study public enterprise, a special corporation in infrastructure industry field. The paper is based on the former study about speciality, definition, representation form and development cause of "infrastructure" and "public enterprise". There are 9 chapters to discuss and analysis these problems centerring on "what is public enterprise?" "Why does it exist in infrastructure industry?" What is its evolution cause and effective mechanism?" "What is the evolution rule of public enterprise in infrastructure field?" and so on.The paper's conclusions are as follow:(1) Public Enterprise is a special corporation providing public goods and its' whole or most capital are financed by government fund or allowance. It is managed or intervened by government, and adjusted or restricted by single law pattern. It is an embodiment of game-equilibrium between power structure and profit structure in micro-organization. According to different kinds and degrees of its' public specialities, there are four types of public enterprises, namely "A, B, C, and D". As usual, the special corporation system of Public Enterprises, which is suit of market economy, is a "union of four parts" system. The system includes the regulations of public enterprise (including loosen regulation according to efficiency and incline-poor rule according to justice) based on single law and rule, property right rule being representative by state holding and public-private cooperation rule, governance structure rule dominated by key interrelated interest holders and management rule together with corporation culture. Certainly, each type has its different corporation system and governance structure.(2) The infrastructure's technology, economic and society speciality determined the objectivity inevitability of public enterprise's existing in infrastructure field. The integrated effect's outcome of infrastructure's triplicate specialties (technology, economic and society speciality) and duplicate specialties of public enterprise (public and private) make public enterprise exist in infrastructure extensively.(3) There are different evolvement causes of public enterprise in different economy development phases. At the capitalist economy formation period, its evolvement cause is to supply the short of private investment as the policy tool of constructing superstructure; at the war or economic crisis period, its evolvement cause is as an ensure mechanism, repair mechanism and policy tool to cope with system risk; in the 1950s～1970s, its evolvement cause is a rectify mechanism for primal market failure and an adjusted mechanism and policy tool of average profit margin descending; Since the 1980s, its evolvement cause is a rectify mechanism of new market failure and an introducing policy tool of developing high-technology industry; In the future, its evolvement cause is the policy tool of expanding potent demand, sustaining economical network and leading front strategical industries.(4) There are limited substitute and four obvious inter-supplement specialties, which makes public enterprise and private enterprise both exist in infrastructure industry fields and other strategy industries at dynamic ratio. Based on different public goods shortage character and infrastructure development model, public enterprise's evolution rules are as follow: The 1st, the embodiment patterns and distribution specialities of public enterprise in infrastructure field are different along with economic development. The 2nd, though in the same economic development period, the embodiment patterns and distribution specialities of public enterprise are different with industrial specialities. The general trend is the industrial distributing level of Public Enterprise becomes higher and higher and accords with "Hirshman Rule". The 3rd, at the different parts of the same industrial chain, the embodiment patterns and distribution specialities of public enterprise are different either. The spread scope becomes thinner and thinner. Public enterprise shrinks around the "seven-inch" parts of industrial chain. The 4th, different development patterns of infrastructure lead to different evolution paths of Public Enterprise.(5) As far as the route-relying problem of state-owned corporation reformation in infrastructure field is concerned, the paper summarizes "two-part way, one-step walk" pattern and "pedigree way, step-to-step walk" pattern. Having analyzed two serious defects rooting in the reformation pattern of "two-part way, one-step walk", namely, externalization of "Insider's Control" that means "Autoeciousness Corporation" destroys its parent corporation's interest and internalization of exterior-control that means relation extrudes rule's efficiency, the paper puts forward the theory logic and feasible route combining with the practice of state-owned corporation reformation in infrastructure field: namely, "pedigree way, step-to-step walk" pattern. At first, to change state-owned corporations that are short of special law and possess four simultaneity specialities, namely, supplying-infrastructure goods, government-corporation, government-capital and government-supervision specialty into A type of public enterprise whose specialities are government-corporation, government-capital and government-supervision based on single law. The second is to change A type of public enterprise into B or C type of public enterprise based on single law, which can make government-corporation, government-capital and government-supervision separated. The third is to change B or C type of public enterprise into D type kind of public enterprise based on single law or private enterprise based on private law.